US Natural Gas Drops to Over 11-Week Low

2026-07-27 02:13 By Judith Sib-at 1 min. read

US natural gas futures slid more than 3.5% to $2.77 per MMBtu on Monday, the lowest since May 8, tracking the decline in global energy prices as Middle East hostilities paused.

Iran said on Sunday that it had halted retaliatory attacks against US allies in the region after Washington stopped its strikes on the country since Friday.

US gas prices also dropped amid ample supply conditions, with EIA data showing that gas inventories remained 6.4% above the five-year seasonal average as of July 17, while average gas output in the Lower 48 states rose to 110.4 bcfd so far in July from 110.0 bcfd in June.

LNG export demand also eased, with gas flows to major export terminals averaging 17.2 bcfd so far this month, slightly below 17.4 bcfd in June, partly due to scheduled maintenance at Freeport LNG’s facility in Texas.

Meanwhile, temperatures are forecast to remain mostly above normal through August 8, which is likely to keep gas demand from power generators elevated to meet cooling needs.



News Stream
US Natgas Prices Rise to Over 5-Week High
US natural gas prices climbed above $2.92/MMBtu on Monday, reaching their highest level in more than five weeks as forecasts pointed to another stretch of above-normal temperatures. Hot conditions across parts of the South, East and East Coast are expected to keep air-conditioning demand elevated and support gas consumption from power generators. Weather models suggest warmer-than-usual conditions could persist through mid-September, although one forecast showed a reduction in cooling-degree days, pointing to some moderation in demand. LNG demand also strengthened, with feedgas flows reaching their highest level since late June following the completion of maintenance at Freeport LNG in Texas, bringing the facility back online. However, strong domestic production continued to limit the upside. Average output in the Lower 48 states reached about 111.5 bcfd in August, surpassing July’s record of 110.7 bcfd.
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US Natgas Prices Drop Further
US natural gas prices fell to $2.85/MMBtu on Monday, extending their retreat from a five-week high as traders weighed the prospect of increased supply. Energy Transfer LP’s Hugh Brinson Pipeline in Texas is set to begin service on September 1 and will eventually be able to transport about 2.2 bcfd of natural gas from the Permian Basin to East Texas, which may increase domestic gas supplies in Erath, Louisiana. On top of that, output in the Lower 48 states averaged a record 111.4 bcfd so far in August, up from 110.7 bcfd in July. However, losses were capped by forecasts for warmer weather, with the Commodity Weather Group saying on Friday that above-average temperatures are expected across the eastern two-thirds of the US from September 2-11, keeping cooling demand elevated. Meanwhile, data showed gas demand from LNG export plants improved, as Cheniere Energy’s Corpus Christi facility and Freeport LNG in Texas resumed operations after maintenance.
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US Natgas Prices Hold at 5-Week High
US natural gas prices held around $2.9/MMBtu, the highest level in five weeks, supported by a smaller-than-usual storage injection and forecasts for continued warm weather. EIA data showed that energy firms added 15 Bcf of gas to storage for the week ended August 21, below the 20 Bcf forecast and the 33 Bcf five-year average for the period. Gas prices also gained amid forecasts of record-high temperatures across the Southwest through this weekend, while the Commodity Weather Group said on Thursday that above-average temperatures are expected across nearly the entire US from September 1-10, keeping cooling demand elevated. However, strong domestic production is capping further price gains, with output in the Lower 48 states averaging a record 111.4 bcfd so far in August, up from 110.7 bcfd in July. Meanwhile, average gas flows to the nine major LNG export facilities fell slightly to 17.1 bcfd from 17.2 bcfd in July, although LNG demand is showing signs of recovery.
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